This episode is a re-run. It was originally published in October 2022.

Construction contracts made clear! This podcast episode focuses on unraveling the mysteries of liquidated damages. Get the lowdown on what they mean and how they impact your projects. Listen in and level up your construction expertise!

Our “Quantum Contract Advantage Service” is known industry-wide for taking construction contractors from being contractually vulnerable, losing money on project administration, and appearing amateur during bidding and negotiations to instead putting that process on auto-pilot so they can secure more contracts, with better terms, for more profit, all while reducing risk. Here's How: ⁠https://quantumcs.co/becomealegacysubcontractor⁠

Important! Before you sign your next contract, read this report on Why Subcontractors Are Going Out Of Business. Download it now - it’s Free: ⁠https://quantumcs.co/LegacyFreeReport⁠

If you want to find out more, book a 30-minute, no-obligation call with one of our contract experts: ⁠https://quantumcs.co/bookinthecall⁠. Jump on a free strategy session to see how we can help you!

Timestamps:

(4:01) - You're entitled to get back how much money you've lost

(6:59) - Liquidated damages kicks in every day that you're late after the PC date

(7:39) - Now, what is the problem we're trying to solve? We don't want our clients to agree to an LD that is too high

(8:40) - The industry standard is about 1 percent of the contract value per day

(9:15) - We also want to make sure that LDs are the sole remedy for delay

DISCLAIMER: The content of this podcast does not constitute legal advice, is not intended to be a substitute for legal advice, and can not be relied upon as such. You should seek legal advice or other professional advice in relation to any matters you or your business may have.

Follow our Socials and let's get connected! ⤵️

⁠⁠⁠⁠Facebook⁠⁠⁠⁠ | ⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠ | ⁠⁠⁠⁠YouTube⁠⁠⁠⁠ | ⁠⁠⁠⁠Instagram⁠⁠⁠⁠ | ⁠⁠⁠⁠TikTok⁠⁠⁠⁠ | ⁠⁠⁠⁠Twitter

Struggling to push your construction business beyond $10M? Join us in this podcast as we reveal the challenges hindering your growth. Transform your growth strategy and propel your business towards remarkable success. Listen up!🔊

Our “Quantum Contract Advantage Service” is known industry-wide for taking construction contractors from being contractually vulnerable, losing money on project administration, and appearing amateur during bidding and negotiations to instead putting that process on auto-pilot so they can secure more contracts, with better terms, for more profit, all while reducing risk. Here's How: ⁠https://quantumcs.co/becomealegacysubcontractor⁠

Important! Before you sign your next contract, read this report on Why Subcontractors Are Going Out Of Business. Download it now - it’s Free: ⁠https://quantumcs.co/LegacyFreeReport⁠

If you want to find out more, book a 30-minute, no-obligation call with one of our contract experts: ⁠https://quantumcs.co/bookinthecall⁠. Jump on a free strategy session to see how we can help you!

Timestamps:

(2:44) - Many people reach a point where they stop growing and they're growing stops, essentially

(3:40) - We get rewarded for the changes that we've made

(4:28) - The problem is you aren't adding volume to everything that you do

(4:48) - Do one thing and do one thing only and be fucking good at that one thing

DISCLAIMER: The content of this podcast does not constitute legal advice, is not intended to be a substitute for legal advice, and can not be relied upon as such. You should seek legal advice or other professional advice in relation to any matters you or your business may have.

Follow our Socials and let's get connected! ⤵️

⁠⁠⁠⁠Facebook⁠⁠⁠⁠ | ⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠ | ⁠⁠⁠⁠YouTube⁠⁠⁠⁠ | ⁠⁠⁠⁠Instagram⁠⁠⁠⁠ | ⁠⁠⁠⁠TikTok⁠⁠⁠⁠ | ⁠⁠⁠⁠Twitter

This episode is a re-run. It was originally published in October 2022.

Did you know that consequential damages are one of the most common company-enders in construction? Equip yourself with the essentials and safeguard your projects from potential risks. Listen here!

Our “Quantum Contract Advantage Service” is known industry-wide for taking construction contractors from being contractually vulnerable, losing money on project administration, and appearing amateur during bidding and negotiations to instead putting that process on auto-pilot so they can secure more contracts, with better terms, for more profit, all while reducing risk. Here's How: ⁠https://quantumcs.co/becomealegacysubcontractor⁠

Important! Before you sign your next contract, read this report on Why Subcontractors Are Going Out Of Business. Download it now - it’s Free: ⁠https://quantumcs.co/LegacyFreeReport⁠

If you want to find out more, book a 30-minute, no-obligation call with one of our contract experts: ⁠https://quantumcs.co/bookinthecall⁠. Jump on a free strategy session to see how we can help you!

Timestamps:

(1:55) - Liquidated damages are reimbursing the client for us being late

(3:43) - The company's loss of profit could be the end of the contractor's business

(4:44) - If you've asked to sign up for consequential damage or loss, it is a bad idea

(5:09) - The best companies in construction limit their downside risk as the main priority

DISCLAIMER: The content of this podcast does not constitute legal advice, is not intended to be a substitute for legal advice, and can not be relied upon as such. You should seek legal advice or other professional advice in relation to any matters you or your business may have.

Follow our Socials and let's get connected! ⤵️

⁠⁠⁠⁠Facebook⁠⁠⁠⁠ | ⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠ | ⁠⁠⁠⁠YouTube⁠⁠⁠⁠ | ⁠⁠⁠⁠Instagram⁠⁠⁠⁠ | ⁠⁠⁠⁠TikTok⁠⁠⁠⁠ | ⁠⁠⁠⁠Twitter

Guard your business against the impact of late payments! In this episode, we reveal the hidden weapon that equips construction businesses with strategies to navigate and conquer payment challenges. Listen up!

For more videos, subscribe to our YouTube channel using this link: https://quantumcs.co/CSYouTube

Our “Quantum Contract Advantage Service” is known industry-wide for taking construction contractors from being contractually vulnerable, losing money on project administration, and appearing amateur during bidding and negotiations to instead putting that process on auto-pilot so they can secure more contracts, with better terms, for more profit, all while reducing risk. Here's How: ⁠https://quantumcs.co/becomealegacysubcontractor⁠

Important! Before you sign your next contract, read this report on Why Subcontractors Are Going Out Of Business. Download it now - it’s Free: ⁠https://quantumcs.co/LegacyFreeReport⁠

If you want to find out more, book a 30-minute, no-obligation call with one of our contract experts: ⁠https://quantumcs.co/bookinthecall⁠. Jump on a free strategy session to see how we can help you!

Timestamps:

(0:50) - It's making sure that those little things matter and they affect big things

(1:30) - The price of fruit is like in the overall landscape of a business that costs nothing to them

(1:53) - If you are relentless when you're not paid on time, then you're going to train your client up to…

(2:18) - You're due to be paid when you're due to be paid

(3:27) - You need to be on top of that to make sure that you're paid

DISCLAIMER: The content of this podcast does not constitute legal advice, is not intended to be a substitute for legal advice, and can not be relied upon as such. You should seek legal advice or other professional advice in relation to any matters you or your business may have.

Follow our Socials and let's get connected! ⤵️

⁠⁠⁠⁠Facebook⁠⁠⁠⁠ | ⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠ | ⁠⁠⁠⁠YouTube⁠⁠⁠⁠ | ⁠⁠⁠⁠Instagram⁠⁠⁠⁠ | ⁠⁠⁠⁠TikTok⁠⁠⁠⁠ | ⁠⁠⁠⁠Twitter

This episode is a re-run. It was originally published in October 2022.

Construction excellence starts with defects mastery! From causes to resolutions, join us as we cover everything you need to know about defects liability in construction. Don’t miss out!

Our “Quantum Contract Advantage Service” is known industry-wide for taking construction contractors from being contractually vulnerable, losing money on project administration, and appearing amateur during bidding and negotiations to instead putting that process on auto-pilot so they can secure more contracts, with better terms, for more profit, all while reducing risk. Here's How: ⁠https://quantumcs.co/becomealegacysubcontractor⁠

Important! Before you sign your next contract, read this report on Why Subcontractors Are Going Out Of Business. Download it now - it’s Free: ⁠https://quantumcs.co/LegacyFreeReport⁠

If you want to find out more, book a 30-minute, no-obligation call with one of our contract experts: ⁠https://quantumcs.co/bookinthecall⁠. Jump on a free strategy session to see how we can help you!

Timestamps:

(2:28) - We got our practical completion certificate signed. Now, our 12 months defects liability period starts

(4:00) - What we need to be careful of is that whenever they fix something, it tagged on an additional 12 months onto the defects liability period

(4:55) - Sometimes the way that the contracts worded, it says the original defects liability period will apply to the rectification

(5:09) - We want to make sure that there is no re-warranty and rectification period

DISCLAIMER: The content of this podcast does not constitute legal advice, is not intended to be a substitute for legal advice, and can not be relied upon as such. You should seek legal advice or other professional advice in relation to any matters you or your business may have.

Follow our Socials and let's get connected! ⤵️

⁠⁠⁠⁠Facebook⁠⁠⁠⁠ | ⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠ | ⁠⁠⁠⁠YouTube⁠⁠⁠⁠ | ⁠⁠⁠⁠Instagram⁠⁠⁠⁠ | ⁠⁠⁠⁠TikTok⁠⁠⁠⁠ | ⁠⁠⁠⁠Twitter

Navigate the marketing landscape the smart way! Tune into this podcast episode for essential insights on marketing for construction contractors. Don't miss out – listen now!

For more videos, subscribe to our YouTube channel using this link: https://quantumcs.co/CSYouTube

Our “Quantum Contract Advantage Service” is known industry-wide for taking construction contractors from being contractually vulnerable, losing money on project administration, and appearing amateur during bidding and negotiations to instead putting that process on auto-pilot so they can secure more contracts, with better terms, for more profit, all while reducing risk. Here's How: ⁠https://quantumcs.co/becomealegacysubcontractor⁠

Important! Before you sign your next contract, read this report on Why Subcontractors Are Going Out Of Business. Download it now - it’s Free: ⁠https://quantumcs.co/LegacyFreeReport⁠

If you want to find out more, book a 30-minute, no-obligation call with one of our contract experts: ⁠https://quantumcs.co/bookinthecall⁠. Jump on a free strategy session to see how we can help you!

Timestamps:

(1:58) - Produce a piece of cornerstone content

(4:30) - What was previously called social media is a new form of media

(5:19) - All Facebook, Instagram, all of those other social media platforms have changed their algorithms to become interest-based

(7:18) - Direct response marketing is when you're shown an ad and you click on the ad and then you go and do something straight away

(8:31) - With the retargeting, you spend so much less because the ads are only going to that specific person or those specific people that land on your website

DISCLAIMER: The content of this podcast does not constitute legal advice, is not intended to be a substitute for legal advice, and can not be relied upon as such. You should seek legal advice or other professional advice in relation to any matters you or your business may have.

Follow our Socials and let's get connected! ⤵️

⁠⁠⁠⁠Facebook⁠⁠⁠⁠ | ⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠ | ⁠⁠⁠⁠YouTube⁠⁠⁠⁠ | ⁠⁠⁠⁠Instagram⁠⁠⁠⁠ | ⁠⁠⁠⁠TikTok⁠⁠⁠⁠ | ⁠⁠⁠⁠Twitter

This episode is a re-run. It was originally published in October 2022.

Secure your success! In this podcast episode, discover how contract negotiation safeguards your security on a construction project. Tune in!

Our “Quantum Contract Advantage Service” is known industry-wide for taking construction contractors from being contractually vulnerable, losing money on project administration, and appearing amateur during bidding and negotiations to instead putting that process on auto-pilot so they can secure more contracts, with better terms, for more profit, all while reducing risk. Here's How: ⁠https://quantumcs.co/becomealegacysubcontractor⁠

Important! Before you sign your next contract, read this report on Why Subcontractors Are Going Out Of Business. Download it now - it’s Free: ⁠https://quantumcs.co/LegacyFreeReport⁠

If you want to find out more, book a 30-minute, no-obligation call with one of our contract experts: ⁠https://quantumcs.co/bookinthecall⁠. Jump on a free strategy session to see how we can help you!

Timestamps:

(1:46) - Once the contract is awarded, we're going to have to provide security to a certain percentage

(3:13) - Normally the contract value or the contract price is defined in the contract as a defined term

(6:07) - Retention is they will withhold  10 percent of every invoice until they hit 5 or 10 percent of the contract value.

(7:40) - The less security they have to put up, the less it's going to cost them in cash flow

(8:30) - What is more important, cash flow or total cost?

DISCLAIMER: The content of this podcast does not constitute legal advice, is not intended to be a substitute for legal advice, and can not be relied upon as such. You should seek legal advice or other professional advice in relation to any matters you or your business may have.

Follow our Socials and let's get connected! ⤵️

⁠⁠⁠⁠Facebook⁠⁠⁠⁠ | ⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠ | ⁠⁠⁠⁠YouTube⁠⁠⁠⁠ | ⁠⁠⁠⁠Instagram⁠⁠⁠⁠ | ⁠⁠⁠⁠TikTok⁠⁠⁠⁠ | ⁠⁠⁠⁠Twitter

Start the year strong! Tune in for an insider's guide to 4 powerful tips that will revolutionize your productivity and boost profitability in your construction business. Don’t miss out!

For more videos, subscribe to our YouTube channel using this link: https://quantumcs.co/CSYouTube

Construction Companies doing $5M+!📣 We have created a FREE REPORT, packed with information gathered from over 4000 Contract Reviews. In this report you will find The 3 Things You Need To Negotiate In Every Contract. Click Here to find out how you can sign low-risk contracts, boost cash flow & improve your profit margin. https://quantumcs.co/downloadthereport

If you want to find to out more, book a 30-minute, no-obligation call with one of our contract experts: https://quantumcs.co/bookinthecall. Jump on a free strategy session to see how we can help you!

Timestamps:

(0:59) - What's a great idea is to implement a book called Traction by Gino Wickman

(1:42) - One of the biggest things is using managed services to your advantage

(2:23) - Your contract should be your Bible

(3:27) - He implemented the responsibility chart. He outsourced his. Contracts and project management. So he could focus on training the supervisors

DISCLAIMER: The content of this podcast does not constitute legal advice, is not intended to be a substitute for legal advice, and can not be relied upon as such. You should seek legal advice or other professional advice in relation to any matters you or your business may have.

Follow our Socials and let's get connected! ⤵️

⁠⁠⁠⁠Facebook⁠⁠⁠⁠ | ⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠ | ⁠⁠⁠⁠YouTube⁠⁠⁠⁠ | ⁠⁠⁠⁠Instagram⁠⁠⁠⁠ | ⁠⁠⁠⁠TikTok⁠⁠⁠⁠ | ⁠⁠⁠⁠Twitter

This episode is a re-run. It was originally published in October 2022.

Crack the code of construction tenders! Uncover the secrets to crafting winning proposals and securing your place in the competitive construction market. Tune in!

Our “Quantum Contract Advantage Service” is known industry-wide for taking construction contractors from being contractually vulnerable, losing money on project administration, and appearing amateur during bidding and negotiations to instead putting that process on auto-pilot so they can secure more contracts, with better terms, for more profit, all while reducing risk. Here's How: ⁠https://quantumcs.co/becomealegacysubcontractor⁠

Important! Before you sign your next contract, read this report on Why Subcontractors Are Going Out Of Business. Download it now - it’s Free: ⁠https://quantumcs.co/LegacyFreeReport⁠

If you want to find out more, book a 30-minute, no-obligation call with one of our contract experts: ⁠https://quantumcs.co/bookinthecall⁠. Jump on a free strategy session to see how we can help you!

Timestamps:

(1:39) - So tender or bid document. This is basically the document that the company who wants the work completed issues to the market

(2:23) - There's the instructions to the tenderers, the bidders. This is a document. With four or five pages that list out exactly how they want to receive your bid

(4:26) - The IOA or the FOA that stands for the instrument of agreement or the form of agreement

(5:34) - The scope of work is basically a job description

(8:02) - The order of precedence lays out the importance of the document

DISCLAIMER: The content of this podcast does not constitute legal advice, is not intended to be a substitute for legal advice, and can not be relied upon as such. You should seek legal advice or other professional advice in relation to any matters you or your business may have.

Follow our Socials and let's get connected! ⤵️

⁠⁠⁠⁠Facebook⁠⁠⁠⁠ | ⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠ | ⁠⁠⁠⁠YouTube⁠⁠⁠⁠ | ⁠⁠⁠⁠Instagram⁠⁠⁠⁠ | ⁠⁠⁠⁠TikTok⁠⁠⁠⁠ | ⁠⁠⁠⁠Twitter

Contract terms that build fortunes! Uncover the four construction contract terms that have the potential to make you rich in the industry. Tune in to discover how these terms can transform your bottom line!

For more videos, subscribe to our YouTube channel using this link: https://quantumcs.co/CSYouTube

Important! Before you sign your next contract, read this report on Why Subcontractors Are Going Out Of Business. Download it now - it’s Free: https://quantumcs.co/LegacyFreeReport

If you want to find out more, book a 30-minute, no-obligation call with one of our contract experts: https://quantumcs.co/bookinthecall. Jump on a free strategy session to see how we can help you!

Timestamps:

(0:59) - In reality, what that means is if you don't comply with some of the obscure terms in the contract, they aren't paying you, end of story

(1:19) - It always helps with cash flow to ask for a prepayment

(2:09) - The time bars are killers

(2:30) -  Two days is tough on a project where there's multiple people wearing multiple hats

DISCLAIMER: The content of this podcast does not constitute legal advice, is not intended to be a substitute for legal advice, and can not be relied upon as such. You should seek legal advice or other professional advice in relation to any matters you or your business may have.

Follow our Socials and let's get connected! ⤵️

⁠⁠⁠⁠Facebook⁠⁠⁠⁠ | ⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠ | ⁠⁠⁠⁠YouTube⁠⁠⁠⁠ | ⁠⁠⁠⁠Instagram⁠⁠⁠⁠ | ⁠⁠⁠⁠TikTok⁠⁠⁠⁠ | ⁠⁠⁠⁠Twitter